Felda Global Ventures to buy Malaysian biodiesel plant - report
Sep 9, 2014 - Malaysian agri-commodities company Felda Global Ventures Holdings Bhd (KUL:FGV) will purchase a biodiesel refinery in the eastern part of the country, capable of producing 250,000 tonnes of fuel per year, Argus Media said on Monday.
The seller is Australian firm Mission Biofuels, part of biodiesel group Mission NewEnergy Ltd (ASX:MBT). Felda will acquire the target facility in Kuantan state through its subsidiary Felda Global Ventures Downstream and its partners M2 Capital and Benefuel Intl.
The acquisition is seen to be completed by the fourth quarter of the year, while the plant will be operational at end-2015. This is Felda’s second biodiesel plant purchase from Mission Biofuels.
In April 2013, Felda agreed to buy the assets of Mission Biotechnologies Sdn Bhd (MBSB) and its biodiesel production facility at Kuantan Port annual capacity of 100,000 tonnes. The deal was estimated at USD-11.5-million (EUR 8.9m).
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.